NIIT Limited announces Q2 (July - September 2021) Consolidated Results
- Records Profit After Tax of Rs. 52.4 Cr, up 101% YoY
- Q2 Revenue at Rs. 314.2 Cr, up 44% YoY
- EBITDA margin at 23.5%, up 780 bps YoY
- Corporate Learning Group (CLG) records revenue growth of 40% YoY and EBITDA margin of 29%
- CLG signs 6 new MTS contracts; ends the quarter with 63 MTS customers and revenue visibility at $ 294 Mn
- Skills and Careers Group (SNC) records accelerated growth of 70% YoY and 11% QoQ on the back of growing demand for TPaaS and StackRoute offerings
Consolidated Financials for Quarter ended September 30, 2021
|(in Rs. Crore)|
Sep 30, 2021
Sep 30, 2020
|EBITDA %||23.5%||15.7%||780 bps|
|Profit After Tax||52.4||26||101%|
New Delhi, November 10, 2021: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2021. During the quarter, the company recorded Net Revenue of Rs. 314.2 Cr. up 44% YoY. EBITDA was Rs. 73.9 Cr. up 115% YoY and the EBITDA margin stood at 23.5%, up 780 bps. Profit After Tax was recorded at Rs. 52.4 Cr, up 101% YoY.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company's performance during the quarter, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "NIIT delivered robust revenue growth of 44% YoY with improved margins. The Corporate Learning business continues to strengthen its market position and has added a record 6 new MTS contracts during the quarter. Our key initiatives in India – TPaaS and StackRoute – delivered strong volume growth."
NIIT acquired majority stake in RPS Consulting Private Limited, a leading provider of training programs on emerging digital technologies for experienced technology professionals, specifically addressing the needs of Global Systems Integrators and Capability Centers of large multinational companies. This acquisition creates new opportunities to deliver innovative learning solutions in emerging digital technologies including Software Architecting and Engineering, Data Science, Cloud, Automation and DevOps, for both working professionals and new hires. Further, it will help NIIT expand its Managed Training Services portfolio to include technology training as a Managed Service for its global customers. The transaction was closed on October 1, 2021 and the financial results of RPS Consulting will get consolidated from Quarter 3.
Corporate Learning Group (CLG) recorded net revenue of Rs. 272.2 Cr, up 40% YoY.
CLG added a record 6 new MTS contracts during the quarter - two in FMCG segment, two in BFSI and two in specialized consulting. The number of MTS customers stands at 63 and Revenue Visibility at the end of the quarter was at $ 294 million.
Commenting on the quarter performance, Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said, "Both the Corporate Learning Group (CLG) and the Skills and Careers Group (SNC) continued to accelerate and grow during the quarter. As the war for talent intensifies, our core value proposition of providing training interventions that deliver outcomes at scale, continues to resonate with our customers."
Skills & Careers Group (SNC) recorded net revenue of Rs. 42 Cr during Q2, up 70% YoY, driven by significant acceleration in StackRoute and TPaaS (Talent Pipeline as a Service).
StackRoute is a preferred choice for leading organizations for building digital and technology talent through deep-skilling programs for entry level as well as existing experienced workforce. During this quarter, many leading enterprises including one of the Big 4, a leading FoodTech Start-up, and many large global technology service providers partnered with StackRoute towards their initiatives for building high quality digital talent.
As part of the TPaaS initiative, Sutherland, a leading global digital transformation company based out of Rochester, NY, USA and StackRoute, an NIIT Venture, entered a partnership to launch an immersive training program designed to identify the right talent and develop them as high-quality Full Stack IT Professionals, handling critical roles at Sutherland. NIIT Academy of Relationship and Wealth Management, a joint initiative by Axis Bank, and NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) launched its second program on "Virtual Sales and Relationship Management" that offers an exciting sales career with Axis Bank. Given the increased hiring trajectory across IT and BFSI sector, there is a greater demand for TPaaS offering both from existing and new customers.
- NIIT earned 51 Brandon Hall Group Human Capital Management Excellence awards including 30 Gold awards, 12 Silver Awards, and 9 Bronze awards jointly with customers.
- NIIT's nominees who are learning leaders from customer organizations won 7 Chief Learning Officer Learning in Practice awards including 4 gold awards, 1 silver, and 2 bronze awards.
- NIIT IFBI won the 'Training & Education Excellence Award' at the Quantic India 3rd Annual BFSI Excellence Awards 2021
About NIIT Limited
NIIT Limited is a global skills and talent development company and a leading provider of managed training services. Set up in 1981 to help the nascent IT industry overcome its human resource challenges, the organisation today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, it offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains. Further, NIIT also provides a series of aspirational New-age Career Programs in Product & Software Engineering, Data Science, Digital Marketing, Banking, Finance & Accounts, Game Development, 5G certification program, and more. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale.
As online and remote learning becomes mainstream, the robust NIIT Digital platform connects the corporate and individual learners seamlessly and provides an environment for improving learning effectiveness and efficiency. Committed to its mission to deep skill the youth of the country NIIT Digital not just offers new age, online, instructor led tech courses but also follows through with placement assurance to truly transform the lives of the learners.
NIIT has been featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. The company was recognised as "Best Education Company to work with" at Indian Education Congress & Awards 2020. NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies globally for the past twelve consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category.
For more information about NIIT visit: www.niit.com
For Media query, Please contact
For Media queries please contact
Senior Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324
Visit us at: www.niit.com
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